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The chance of being audited by the IRS can be unsettling. While there’s no surefire way to avoid an audit, understanding how the IRS selects returns for review and maintaining accurate records can help. Responding promptly to any IRS notices and knowing your rights as a taxpayer are also essential steps. What Are the…
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The IRS does not explicitly define "red flags," but rather uses a variety of methods to identify tax returns that may require further review. Filing an accurate return is the best way to avoid an audit. The IRS may flag a return if income or other details don’t match what employers, banks, or other…